All News articles – Page 140
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NewsAspen reports results for the six-months ended 30 June, 2020
Aspen Insurance Holdings Limited (“Aspen”) (NYSE: AHL) reported today an operating loss after tax of $48.2 million and a 109.2% combined ratio for the six months ended June 30, 2020, which included losses associated with COVID-19 totaling $187.3 million or 15.7%. Excluding COVID-19 losses, the Company reported an operating gain ...
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NewsThe Rooney Rule: Could it improve the recruitment and retention of ethnic minorities in insurance?
The recruitment and retention of ethnic minority staff in the insurance industry has been an ongoing issue – and one that was reawakened after protests by the Black Lives Matter movement. Although some firms such as Aon have put schemes in place to help, the African Caribbean Insurance Network ...
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NewsInsurance broker accused of ‘forgery’ to win commission
An insurance broker has been accused of ‘forgery’ in a bid to win commission from AXA. A legal claim has been filed against the broker after it was accused of forging documents to deceive a client regarding a policy pay-out to retain its relationship with AXA Insurance UK, it is ...
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NewsEx-Aviva boss and major reinsurer in dramatic Saga takeover
Ex-Aviva boss Mark Wilson has been revealed as the architect of a plan to take over troubled personal lines broker and cruise business Saga. Ex-Aviva chief executive Mark Wilson left the business in 2018 not long after a preference share controversy Wilson had also partnered with Munich Re and ...
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NewsIUA open letter calls for right to cancel professional indemnity cover for solicitors
The International Underwriting Association (IUA) is calling for the right to cancel professional indemnity insurance for solicitors in an open letter. It published an open letter to solicitors highlighting that professional indemnity insurance could become unsustainable if underwriters cannot cancel policies if the premium is not paid.
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NewsMarkerstudy cuts compulsory redundancies for proposed Co-op Insurance deal
Markerstudy has reduced the number of compulsory redundancies for the proposed deal with the Co-operative Insurance. Earlier in the week an Early Day Motion was filed by Rochdale MP Tony Lloyd on 1 September, alongside a protest with trade union Unite outside the birthplace of the Co-operative movement.
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NewsSimply Business and AXIS Insurance to Launch Customised Insurance Offering for Entrepreneurs
Homeowners’ insurance policies may not cover commercial losses, and as a result, entrepreneurs who run their businesses from home may not be protected from a variety of unexpected events that could jeopardise their business. The Home Based Business policy intends to fill these key gaps.
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NewsBest’s Market Segment Report: Swiss Re Holds Onto Top Spot in AM Best’s Top 50 Ranking of Global Reinsurers
Swiss Re maintained the top spot in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2019 for the second-straight year, and widened its lead over the No. 2-ranked Munich Reinsurance Company, as detailed in the new Best’s Market Segment Report, “Global Reinsurers Maintain Equilibrium Through COVID-19 ...
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People & OpinionThe Hanover Insurance Group, Inc. Elects Theodore H. Bunting, Jr. to Board of Directors
Bunting is a highly experienced senior executive with more than 35 years of finance, accounting and operations management experience. Most recently, he served as group president, utility operations, at Entergy Corporation, a publicly traded, integrated energy company engaged in electric power production and retail distribution in the Southern U.S., from ...
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People & OpinionEd expands professional and executive risk team with Michael Lock
Ed, the global reinsurance, wholesale and specialty broker, today announces the appointment of Michael Lock as divisional director in its professional and executive risk team, effective immediately. Michael will report to Niraj Perera, head of transactional risk.
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NewsUSD 30mn invested in Softlogic Life’s growth by Finnfund, NorFund and Munich Re
Norfund and Finnfund are impact investors funded by the governments of Norway and Finland and private capital markets whose objectives are to fund sustainable development through responsible and profitable businesses across the globe. What makes the transactions even more significant are that they are being executed amidst the ongoing COVID-19 ...
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NewsAM Best Affirms Credit Ratings of Emirates Insurance Company
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Emirates Insurance Company P.J.S.C. (EIC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect EIC’s balance sheet strength, which AM Best categorises as very ...
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NewsTreasury initiates next five-year review of Pool Re
HM Treasury has confirmed that it will begin the latest five-year review of Pool Re, the insurance industry’s mutual for insuring terrorism risk in Great Britain. Conducted in liaison with Pool Re itself, as well as stakeholders across Whitehall, the Treasury will also consult with the UK (re)insurance sector in ...
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NewsSeopa and Freedom Brokers team up for van telematics
Freedom Brokers has teamed up with Seopa, the parent company of insurance comparison platforms Quotezone.co.uk and CompareNI.com, to bring its first telematics van insurance offering, initially focusing on light commercial van drivers. Seopa was the first comparison expert in the UK to offer van insurance across its aggregator system and ...
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People & OpinionWhite Oak names Lisa Perry as chief underwriting officer
White Oak Underwriting Agency is announcing the appointment of Lisa Perry as chief underwriting officer. Perry brings with her a wealth of experience and expertise as a market leader with a stellar reputation built up over 27 years in the industry, predominantly in underwriting but also in broking throughout the ...
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NewsZurich UK names new CEO as Tulsi Naidu moves to APAC
Following four years in tenure, UK chief executive Naidu will join the Zurich Group Executive Committee to take over as regional chief executive of the Asia Pacific region from the 1st January 2021.
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NewsTrue impact of lockdown reductions not shown in ABI’s claims data says By Miles
Pay-per-mile insurtech By Miles has pointed out the ABI’s new quarterly motor claims data that was published today does not demonstrate the true impact of lockdown reductions in claims. The insurtech said that it could therefore include potential “red herrings” for some of the values of claims that have ...
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NewsModern slavery risks surge in Asia manufacturing hubs
The risk is set to intensify further as the economic fallout from COVID-19 takes full hold, warns Verisk Maplecroft. Bangladesh, China, Myanmar, India, Cambodia, Vietnam and Indonesia are all at their lowest points in the ranking since 2017
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NewsMNK Re launches dedicated Residual Value Insurance Centre of Excellence
MNK Re Limited, a specialist Lloyd’s Broker headquartered in London, has announced the launch of a dedicated Residual Value Insurance (RVI) Centre of Excellence. Based in London, Robert Prince has joined MNK Re as Practice Leader to specialize in RVI business exclusively. Robert has over 20 years of experience in ...
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NewsFlood Re chief exec outlines next steps for addressing climate change risk
Flood Re’s chief executive Andy Bord outlined what should happen next to ensure that it can address climate change and reach a risk-reflective home insurance market by its exit in 2039. The flood re-insurer presented evidence to Parliament’s Environment, Food, and Rural Affairs (EFRA) Select Committee yesterday addressing the evolving ...
